Royal Bank of Scotland is backing Time Warner's £178m push to produce potential blockbusters with stars including Helen Mirren.

Royal Bank of Scotland is lending its financial muscle to Time Warner's attempts to improve its performance at the box office by backing a £178m push to produce potential blockbusters with stars including Helen Mirren.

The Edinburgh-based bank has joined the world's biggest media group in a co-funding deal which will give Time Warner's New Line Cinema division the wherewithal to make around 20 films over the next two years.

The bank will help fund titles including an adaptation of the novel Inkheart which will feature Helen Mirren, the British actress who is riding a wave of commercial and critical success that Time Warner will be keen to cash in on.

Essex-born Mirren has been nominated for best actress gong in this year's Oscar awards for her role in The Queen, after scooping a series of prestigious prizes in recent weeks.

Time Warner, whose interests include cable television and the Time publishing business, will be hoping the new titles help the films division make up ground it lost last year.

Results for Time Warner published yesterday showed group adjusted operating income before depreciation and amortisation increased 11% to £5.6bn, compared with 2005.

The result included a gain of £392m on the sale of the AOL internet access businesses in the UK and France.

However, adjusted operating income for the filmed entertainment businesses, including New Line and Warner Brothers, fell 7% to £561m.